Anshan Iron and Steel Group Corp (Ansteel) plans to strike an investment deal with a Mississippi steel mill in the US on Wednesday, the Oriental Morning Post reported, citing the company's general manager Zhang Xiaogang.

But Ansteel's public relations officer did not confirm that report.

Ansteel said in May that it was investing in a steel-rebar project with US start-up Steel Development Corp in Armory, Mississippi.

Ansteel planned to invest $175 million to build four steel mills, each with an annual capacity of 300,000 tons, and the Chinese steelmaker would take less than 20 percent of the project, according to the paper.

The US Congressional Steel Caucus in June had urged the Obama administration to oppose the proposed joint venture as it threatens "American jobs" and "national security."